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Pure Storage Hints at Possible Product Defects, Order Cancellations
Data storage firm doubles the number of references made to product defects in latest quarterly filing.
September 9, 2021
Pure Storage (PSTG), an enterprise data storage company, has always included boilerplate language warning its products may contain defects. But in its latest 10-Q, Pure Storage is doubling down on the possibility its products are defective and the impact it may have on revenue:
“Our products are highly technical and may contain defects, which could cause data unavailability, loss or corruption…”
“... errors, defects, or security vulnerabilities may leave us and our products susceptible to exploitation...
In the latest quarterly filing, Pure Storage included the word “defect” six times, or twice the number of instances it used the word in the prior eight quarters dating back to the third quarter of 2018. The latest filing also included new language warning investors of the potential consequences associated with challenges like defective products:
“...the impact on timing and amount of revenue recognized resulting from the cancellation of unfulfilled orders by our customers…”
Related: DELL, HPQ, IBM, NTAP
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